Nestle Sees 20% China Growth in This Year as Wages Rise
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Nestle SA, the world’s largest food company, said China sales will probably grow about 20 percent this year because of rising wages and the government’s policy to boost local consumption.
The slowing growth of Asia’s biggest economy hasn’t affected the local operations of the Vevey, Switzerland-based company, which has seen expansion in most of its businesses, including dairy products and coffee, Greater China Chairman Roland Decorvet said in an interview today. Nestle’s China sales increased by more than 20 percent last year and will grow by a double-digit percentage in 2013, he said.